CARE reaffirms ratings on bank facilities of Pitti Engineering

The rating on long-term bank facilities Rs350.24cr has been reaffirmed at CARE BBB+ with a Stable outlook.

June 24, 2021 4:30 IST | India Infoline News Service

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CARE Ratings Limited has reaffirmed the ratings to Pitti Engineering Limited’s long-term and short-term banking facilities based on the performance for FY21. The total facilities Rs498.38 were rated.

The rating on long-term bank facilities Rs350.24cr (Reduced from Rs355.241cr) has been reaffirmed at CARE BBB+ with a Stable outlook. The rating on long and short-term bank facilities Rs10.50cr has been reaffirmed at CARE BBB+; Stable / CARE A2.

The credit rating agency also reaffirmed CARE A2 rating on short-term bark facilities Rs137.64cr (Enhanced from Rs132.641cr).

Pitti Engineering Limited stock trade on Thursday ended at Rs126.00 per piece down Rs1.10 or 0.87% on the BSE.